When Comparing a Monopoly to a Perfectly Competitive Industry at the Equilibrium

question 92

Multiple Choice

When comparing a monopoly to a perfectly competitive industry at the equilibrium point,we find that monopoly is

• A) inefficient because it charges higher prices.
• B) inefficient because it generates less output.
• C) efficient because it generate more output due to economies of scale.
• D) neither efficient nor inefficient.

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Definitions:

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